Estate Planning
The real purpose of estate planning is to properly plan for your own disability or death. Have you heard of the 5 P’s? It’s a saying composed of 5 words all beginning with the letter “P” and it’s used quite frequently in the military (military personnel have been known to add a 6th word beginning with P, but I’ll forego mentioning that one here). The saying goes like this: Prior Planning Prevents Poor Performance.If you don’t make your own decisions in advance regarding your assets, your healthcare, etc., the courts, or what’s in the legal statutes, will make those decisions for you. And I guarantee you those choices will be significantly different from your own in just about every case. So, the purpose of an estate plan is putting your plans into action through the execution of properly-crafted legal documents. By doing so, you avoid needing court or governmental intervention on your behalf. And, as I stated, that will likely result in something other than what you wanted.
The true purpose of an estate plan is to accomplish a number of goals. Your estate plan will depend upon your particular circumstances. In planning your estate, your goals and wishes are given the highest priority. In addition to your goals and wishes, you should also consider your family and its needs, as well as the nature and extent of your property. To be able to properly achieve the purpose of estate planning (to be prepared), you will need to answer a number of important questions. A major question will concern who will receive your property upon your death and the manner in which the property will be distributed. Depending on your circumstances you will determine:
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In answering many of these difficult questions, you will be able to see the true purpose of estate planning: the effects of these decisions are too important to leave them up to the courts.
To hear more about your estate planning options, please access my FREE living trust program by adding your name and contact information into the form above. You’ll receive instant access to this program and we’ll discuss all the components of estate planning and what they mean for you. This is the first conversation you should have with your attorney and knowing this information could save you thousands.
To hear more about your estate planning options, please access my FREE living trust program by adding your name and contact information into the form above. You’ll receive instant access to this program and we’ll discuss all the components of estate planning and what they mean for you. This is the first conversation you should have with your attorney and knowing this information could save you thousands.
